Dubai Approves First Tokenized Money Market Fund in Regulatory Milestone

Dubai's financial regulator has greenlit the QCD Money Market Fund (QCDT), marking the Middle East's first approved tokenized money-market vehicle. The Dubai Financial Services Authority's endorsement signals the emirate's accelerating role in compliant digital asset innovation.

Qatar National Bank leads asset origination while DMZ Finance provides blockchain infrastructure for the fund, which tokenizes traditional assets like U.S. Treasuries. The move aligns with projections from Ripple and BCG forecasting an $18.9 trillion tokenized RWA market by 2033.

"This deployment cements QNB's leadership in shaping next-generation financial infrastructure," said QNB Singapore CEO Silas Lee. The fund targets institutional applications, positioning Dubai and Doha as frontrunners in the global tokenization race.